Source - Bernama
December 18, 2006

KUALA LUMPUR, - Gamuda Bhd, the lead project sponsor
of the US$700 million (US$1=RM3.5) Nam Theun 1 (NT1) hydropower
project in Laos, Monday signed a tariff agreement with Thailand's
Electricity Generating Authority (EGAT) on the future purchase of
hydroelectric power to be generated by the project.

The tariff agreement established key commercial terms under which the
power purchase agreement (PPA) would be finalised, Gamuda said in a
statement here Monday.

The project's detailed PPA, which is being negotiated with EGAT and
the concession agreement to be signed with the Laotian government, are
both anticipated to be finalised and signed in the next few months and
financial closure in the latter part of 2007.

Gamuda said the NT1 project has a generation capacity of 523
megawatts, and will be built on the Nam Kading, a tributary of the
Mekong in the central Laos province of Bolikhamsay.

Electricity will be transmitted by high voltage lines to EGAT's power
grid in Thailand, the company said.

Gamuda said preliminary construction works on the project began last
month and the project was expected to be completed by 2012, with a
commercial operation date of January 2013.

The company had in 2004 signed two agreements with the Laotian
government to develop the NT1 project on a build-operate-transfer basis.

 

 

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